possible likely there are 3 groups of people here. 1) investor who know what is going on and are patient of the development. 2) People who got hurt badly due to losses and are not emotionally unstable and make sure no one benefited from it, hoping every one will be like them. In Chinese proverb, say that grape is sourer cos they don't get to try. 3) Apportunist who wanted to benefit from others suffering. Meaning to say profit if you sell cheap cheap and this group of people is the most dangerous cos they like devourer waiting for its prey and most greedy people here. In chinese proverb, you die your own problem
Viewer, do your valuation of which group of people are you in.
Malls are a loss breed. Better for our rather incompetent BOD to sell off the London hotel given the surge in London property prices coupled with a strong pound. That should pay off all the debts and return the surplus to the long suffering shareholders.
Corus UK must be worth £250m to £350m or at least rm1.4b.The total debts is around rm900. The difference of rm500m is more than the market value at 0.07. Everything else is free. But of course, the peabrain son doesn't know his maths.
10% PP or 293m shares @ 0.07 will only bring in RM20.5m. Interest on the > RM900 borrowings is more than that. The destruction in value of this company in the last 9 years is reflected in the current share price. The company is in dire need of a competent CEO.
The Proposed Private Placement is expected to result in an interest saving of approximately RM0.98 million per annum and hence have a positive impact on the Group’s financial position in the future. Premised on the above, the Board is of the view that the Proposed Private Placement will facilitate the Group to maintain its creditworthiness with its lenders for the continued availability of credit facilities to fund its business operations which is expected to improve the business and financial performance of the Group and thus enhance the shareholders’ value in the future. 2.2 Adequacy of the Proposed Private Placement in addressing the Company’s financial concerns The Proposed Private Placement will enable the Group to raise additional funds from third party investor(s) expeditiously for the purposes as set out in Section 3 of the Announcement. As at 30 September 2021, the Group has approximately RM141.80 million in cash and bank balances (inclusive of deposits pledged with financial institution) which will be sufficient to meet its shortterm obligations. Although the Proposed Private Placement will not substantially turn around the Group’s financial performance, it is adequate at this juncture as an interim measure to reduce the Group’s existing indebtedness and ensure business continuity is not affected by cash flow constraints. As disclosed in Section 5.8 of the Announcement, the Group has undertaken and is undertaking various measures to improve its financial performance and strengthen its financial position amid the challenging environments faced by the hospitality and tourism industry as well as the retail industry in particular. These include, amongst others, the implementation of various cost cutting measures by the Group, the Proposed Disposal, the opening of new experiential retail store by Metrojaya at LaLaport BBCC in Kuala Lumpur tentatively in the second quarter of 2022 and the Proposed A&W Acquisition. Hence, the Board is of the view that these concerted measures coupled with the efforts to pare down bank borrowings via the proceeds from the Proposed Private Placement and further fund raising exercises in the future, if necessary, will support the Group’s aim to strengthen its financial performance and financial position in the long term. This announcement is dated 7 February 2022
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....